CSPC Innovation Pharma aborts asset acquisition, withdraws application

CSPC Innovation Pharmaceutical (SZSE:300765) announced the termination of its plan to acquire Shiyao Group Baike (Shandong) Pharmaceutical Co., Ltd. through the issuance of shares and cash payment, along with the associated fundraising efforts. The decision, approved at the company's 24th meeting of the 6th Board of Directors and 19th meeting of the 6th Board of Supervisors on April 28, 2025, leads to the withdrawal of application documents for the transaction. The company cited significant changes in the pharmaceutical industry and capital market conditions since the initial planning of the deal as the primary reason for the termination, stating that this was in the best long-term interests of all shareholders. The company will hold an investor briefing on May 6, 2025, to address investor questions about the termination.